Calculators and Tools

NFIB Weekly News

NFIB Weekly News Leading the News

Small Business Owners Anticipate Improved Economic Outlook (07/14/2020)

NFIB’s Small Business Optimism Index (7/14) improved by 6.2 points to 100.6 in June. The NFIB Uncertainty Index also decreased one point to 81, with owners anticipating improving sales as the economy continues to re-open. NFIB Chief Economist Bill Dunkelberg was quoted saying, “We’re starting to see positive signs of increased consumer spending, but there is still much work to be done to get back to pre-crisis levels.”

Business Climate

White House, Congressional GOP Consider Limits On New Round Of Payments (07/14/2020)

The Washington Post (7/9, Stein, Werner) reported, “The White House and congressional Republicans are exploring whether to restrict the number of Americans receiving the next round of stimulus payments,” further than the income limits in the previous package, though they “may ultimately revive the original proposal because of the difficult administrative challenges created by trying to narrowly target the checks.” Senate Majority Leader McConnell has suggested targeting “those earning under $40,000, but it was not clear whether he was suggesting that would be the new cap.” McConnell also mentioned those in the hospitality business as particularly harmed by the pandemic.

Small Business Marketing

Some Small Businesses Using Commercial Cards To Buy Stock (07/14/2020)

PYMNTS (7/9) reported Capital on Tap Head of Growth Alex Miles says small business credit cards can be more versatile than business owners may believe. Miles’ firm “wields the small business credit card as a tool to connect small businesses to financing.” However, Miles has found small business are using their cards to purchase stock, adding that the working capital optimization of such cards is attractive for businesses looking to procure inventory.

Wages and Benefits

More Than 1.3M Applied For Unemployment Benefits Last Week (07/14/2020)

The AP (7/9, Rugaber) reported, “More than 1.3 million Americans applied for unemployment benefits last week, a historically high pace that shows that many employers are still laying people off.” The AP adds that what it calls “the persistently elevated level of layoffs” are happening “as a spike in virus cases has forced six states to reverse their move to reopen businesses.” The six states, it adds, “make up one-third of the US economy.” Still, the AP reports the number “fell from 1.4 million in the previous week,” and those “receiving jobless benefits dropped 700,000 to 18 million” which “suggests that some companies are continuing to rehire workers.” So far, the AP says, “the economy has regained only about one-third of the jobs that vanished in March and April.” Reuters (7/9, Mutikani) says the number of applicants “dropped to a near four-month low last week, but a record 32.9 million people were collecting unemployment checks in the third week of June, supporting expectations the labor market would take years to recover from the COVID-19 pandemic.”